Range Financial Group LLC Makes New Investment in O-I Glass, Inc. $OI

Range Financial Group LLC bought a new stake in O-I Glass, Inc. (NYSE:OI) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 68,088 shares of the industrial products company’s stock, valued at approximately $1,005,000.

Other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in shares of O-I Glass by 64.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after buying an additional 918 shares during the last quarter. Amundi grew its stake in O-I Glass by 1.4% in the 2nd quarter. Amundi now owns 75,483 shares of the industrial products company’s stock valued at $1,175,000 after acquiring an additional 1,031 shares during the last quarter. tru Independence LLC increased its holdings in O-I Glass by 0.4% during the 3rd quarter. tru Independence LLC now owns 353,443 shares of the industrial products company’s stock valued at $4,584,000 after acquiring an additional 1,245 shares in the last quarter. Osaic Holdings Inc. raised its position in O-I Glass by 29.7% during the second quarter. Osaic Holdings Inc. now owns 6,779 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 1,554 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in O-I Glass by 1.4% during the second quarter. California State Teachers Retirement System now owns 143,520 shares of the industrial products company’s stock worth $2,115,000 after acquiring an additional 1,952 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

NYSE:OI opened at $10.19 on Tuesday. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -12.13, a price-to-earnings-growth ratio of 0.67 and a beta of 0.82. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35. The company’s 50-day moving average is $13.46 and its two-hundred day moving average is $13.50. O-I Glass, Inc. has a 12-month low of $9.23 and a 12-month high of $16.91.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, February 10th. The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.52 billion. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) earnings per share. Research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

OI has been the topic of several research reports. Robert W. Baird set a $20.00 price target on shares of O-I Glass in a research report on Thursday, February 12th. Wall Street Zen downgraded O-I Glass from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. UBS Group restated a “buy” rating and set a $21.00 price objective on shares of O-I Glass in a research report on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a report on Thursday, January 22nd. Finally, Citigroup dropped their price target on O-I Glass from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.56.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.